Connect with us


Biden’s ‘Equity Economics’ Hits the Housing Market



If you needed any more proof that Obama is the puppet master of the current White House, look no further than the new “equity” rule Biden foisted upon the American people, sans any scrutiny or legislative process. For years, Democrats have decried “inequality”, when what they meant to bemoan was “inequity”. The hammer of “inequity” is about to drop on the people in this country viewed as “most responsible”, simply for working hard and paying their bills on time.

The Biden White House — and by extension its ring master, Obama —  is fully aware that the population hurt most by this new rule are white Americans, who average much higher credit scores altogether, than “people of color”, with the exception of Asian Americans, who have the highest average scores of any ethnic group, exceeding the average of white Americans. That is the way of Democrats, seeking to drive in wedges in-between Americans who would otherwise unite against their lunacy.

If you have ever purchased a home, you will know that it is a daunting task, even with the best credit and optimal outlook. It takes a lot of planning and careful attention, in particular, to one’s credit score. Some people work for years to pay down debt and increase that score, and now they will be punished for their foresight and perseverance.

The new rule that appears to be something straight out of the Obama playbook, dictates that those with a higher FICO/credit score (i.e. “white” people), be punished with a 1% surcharge on their loans, while those with subprime scores, will be given a 1.5% discount.

The New York Post said:
Starting May 1st, a Biden administration decree will require adjusting mortgage calculations to penalize homebuyers with a FICO credit score of 680 and above — almost two-thirds of the population.

This levy will be used to reduce costs for people with low credit scores — i.e., risky borrowers more likely to default on mortgages.

In layman’s terms, the “surcharge” on borrowers with better-to-best credit is supposed to help pay for the loans of those people who are more likely to default.

It is the latest edict in a long list of “equity” rules dictated to the American people by this administration via Obama’s own preferred mode of “legislation” – the Executive Order.

We, apparently, have learned nothing from the 2008 housing market crash that (nearly) the very same powers that be caused, and this new “equity” rule, fully enacted, will make that crash look like an inconsequential lesson in “equity economics”.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Featured Stories

Featured4 hours ago

GOP Weakens Slim House Majority In Incredible Feat Of Self-Sabotage – George Santos Expelled

The Post Millennial: On Friday, the House of Representatives voted to expel Republican Rep. George Santos by a vote of...

Featured15 hours ago

Biden Admin Betrayal: Blinken Tells Israel It Lacks ‘Credit’ To Defeat Hamas

Breitbart: U.S. Secretary of State Antony Blinken told Israel that it lacks “credit” to conduct the kind of military campaign...

Featured1 day ago

‘A Friend Of Ours Forever’ – Chinese Communists Celebrate Life Of Henry Kissinger, Dead At 100

  Breitbart: Genocidal Chinese dictator Xi Jinping, the Chinese Foreign Ministry, and regime-approved commenters on the tightly controlled Chinese internet...

Featured2 days ago

House Republicans Who Defied Pelosi’s Mask Mandate Appeal To SCOTUS

SCNR: Three Republicans who were fined by former House Speaker Nancy Pelosi for not wearing masks have asked the United...

Featured2 days ago

Biden’s DOJ Seized Extensive Records Of Users’ Interactions With President Trump’s Twitter Account

The Post Millennial: Biden’s Department of Justice released the redacted search warrant for Donald Trump’s Twitter account from by special...

Featured3 days ago

Exclusive Poll – Voters’ Top 3 Descriptions Of Joe Biden: Old, Weak, and Tired

Breitbart: The top three descriptions of President Joe Biden by likely registered voters depicted the 81-year-old as low energy, according...

Featured4 days ago

Trump’s Attorneys Demand DOJ Documents Regarding Undercover Activity On J6

The Post Millennial: In a discovery letter filed last week in the US District Court for the District of Columbia,...

Featured4 days ago

New Details Emerge Of Inhumane Israeli Hostage Conditions Under Hamas

Breitbart: More details are emerging about the harsh conditions in which Hamas kept Israeli hostages, including children and the elderly....

Featured1 week ago

Political Correctness Run Amok – Border Patrol Required To Use ‘Preferred’ Pronouns

Just the News: The Biden Homeland Security Department’s new pronoun rules for illegal immigrants is getting lambasted by the union...


Copyright © 2023 America First News